-Definition of a manic market: one that reacted like that to core CPI missing by 0.1% ..on a 7 handle... really? I know it's not the exact random number, it's about the direction but still, major Eq index SPX500 goes up 3% and back down the same amount within 5 hours >>> The terminal rate now at 4.82% down from 5%+, which means 50bps and 25bps still to come, WSJ article from Timiraos sounds a little 'dovish', caviat and IMHO : inflation will not go back down to 2020 levels for....10years? down to 4 or 5% sure...but lower will be extremely difficult...
-ALL CB's to do 50bps - let's keep it simple FED, BoE, ECB and SNB
-Binance withdrawals jump to $3 billion in 24 hours, research firm says
-“A surprisingly large % of US income tax receipts are tied to a rise in US stock prices. When the US stock market just stops rising…not falls, but just stops rising, that will put pressure on the receipt side of the US fiscal picture, which no one is talking about.” -Greenspan
-TSLA is down 60% from its peak last Nov, now the largest drawdown ever..
-NATO Chief: Relations With Russia "Destroyed" Even If Fighting Ends
-China fuel demand outlook brightens as road, air traffic jump after COVID curbs eas
-The worry is that, along the way, we are going to waste huge amounts of money on the wrong use cases for hydrogen and the wrong infrastructure in the wrong places. Worse than wasting money, we will also be wasting time – and that is the one thing we don’t have. Let’s be smart/lengthy, interesting article below
-India's Nov WPI inflation at 21-month low as food, commodity prices ease
-Trump's conservative base deserting him for DeSantis
Markets :
-Bond markets placing bets on recession-level Inflation plunge next year
-SPX500 'broke' that trendline and traded above 200dma, but for now, failed, though overall no real reasons to sell down, unless Powell is really super hawkish, more hawkish than the 'hawkish 50bps hike that has been expected' for a long while
-Crude - well off lows, China re-opening
-USDollar took a decent dive again post CPI, no recovery overnight
A must watch! yours truly, doing our best for our clients
feedback welcome dear clients, friends, partners, family, ex colleagues and others
finally peaked...!!..like pretty much all other inflation data around the world
Mr. Barr: "Why were things as bad as you say they were?" JJR: "There was no board of directors. I put in a new CFO, a CIO, all with background in these sectors. There's a lot of titles in the company but no experience to back it up. There was zero structure."
he doesn't care... Musk only cares about himself..... suspect shareholders do care about share price though...
The world’s richest person doesn’t tweet. Bernard Arnault becomes world’s richest on champagne, Louis Vuitton bags. The LVMH boss has a fortune estimated at $170.8bn
BofA Finds Investors Are Less Pessimistic on the Economy, More Upbeat on China - Bloomberg >>>> remember what we said 6-8weeks ago, China was uninvestible... (as markets crahed.)...when price action changes, economist and investors become more upbeat.... classic
It's complicated, lengthy process and expensive, we all would love to be simple..
The worry is that, along the way, we are going to waste huge amounts of money on the wrong use cases for hydrogen and the wrong infrastructure in the wrong places. Worse than wasting money, we will also be wasting time – and that is the one thing we don’t have. Let’s be smart.
Have a great day
Team PVM
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